Troymet Completes Wildcat Program and Selects Drill Targets
NANAIMO, BRITISH COLUMBIA--(Marketwired - Nov 10, 2015) - Troymet Exploration Corp. (TSX VENTURE:TYE) ("Troymet" or the Company") is pleased to report the completion of the summer exploration program on its Wildcat gold-silver project located in the Detroit Mining District, an historic gold producing region in the northern Drum Mountains of central Utah. The field program was extended a number of times because of ongoing encouraging exploration results.
As previously reported (news release dated September 22, 2015) Troymet completed detailed geophysical surveys in the Core and SE target areas to aid in targeting of drill holes. Final products of the advanced processing and interpretation of these data were received at the end of October. Troymet completed a full review of all exploration data in the field during the first week of November. Priority drill targets have been selected as well as access to these sites. Troymet now has the necessary information to proceed with permitting a drill program. As well, additional soil sampling was undertaken to follow up and detail positive soil sampling results and to complete coverage of newly staked claims in parts of the Core and SE target areas.
Kieran Downes, President and CEO of Troymet, comments: "The summer exploration program has identified a number of strong drill targets. The Company is anxious to drill these targets."
The current database for the Wildcat project is extensive. Troymet plans to release pertinent information for the various drill targets in the coming weeks.
Troymet's exploration focus is gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits along the Joy Fault, and in structural/stratigraphic hosts in Cambrian carbonate rocks.
Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and verified the technical information provided in this release.
About Troymet Exploration Corp.
Troymet Exploration Corp. is a junior exploration company with a solid treasury and with projects in British Columbia (Redhill and Golden Eagle), Manitoba (McClarty Lake) and Utah (Wildcat). Troymet operates the Wildcat, Redhill and Golden Eagle projects. HudBay Minerals Inc. is the operator of the McClarty Lake joint venture and must contribute $1,151,052 in joint venture expenditures before Troymet is required to fund its participating interest. Troymet retains a 2% net smelter returns royalty (NSR) on the Key property, British Columbia, which was sold to New Gold Inc. in 2013. Troymet is continuing to evaluate mineral properties for acquisition.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo., President, CEO & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in respect of: the Wildcat Project, including the exploration potential and analogous deposit potential of the Wildcat Project; future data analysis, sampling plans and exploration plans on the Wildcat Project; and exploration targets and the potential of such exploration targets. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. This forward-looking information reflects Troymet's current beliefs and is based on information currently available to Troymet and on assumptions Troymet believes are reasonable. These assumptions include, but are not limited to: the current share price of Troymet's common shares and the ability to raise future equity financing, if needed, at prices acceptable to Troymet; Troymet's current and initial understanding and analysis of the Wildcat Project; the ability of Troymet to discover viable exploration targets and the results of exploration on the Wildcat Project; Troymet's general and administrative costs remaining constant; and the market acceptance of Troymet's business strategy.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of Troymet to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of Troymet and its projects, and in particular, the Wildcat Project; general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities, junior market securities and mining exploration company securities; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting Troymet; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. A description of other assumptions used to develop such forward-looking information and a description of other risk factors that may cause actual results to differ materially from forward-looking information can be found in Troymet's disclosure documents on the SEDAR website at www.sedar.com. Troymet does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Contact
Troymet Exploration Corp.
Anthony Zelen
Investor Relations
T: 888-456-4952 or C: 778-388-5258
anthony@senergyir.com
www.troymet.com